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U.S. CRE Prices Edge Further into Year-Over-Year Growth
U.S. commercial property prices edged further into annual growth in March, with a 0.6% increase in the RCA CPPI National All-Property Index, MSCI Real Assets reported. On a quarterly basis, the index has posted three consecutive increases. The 0.5% gain from the fourth quarter of 2024 points to a faster annualized pace of growth of 1.8%.
“Prices have yet to respond to the new spike in uncertainty unleashed by the raft of tariffs announced by the U.S. administration at the start of April,” according to MSCI Real Assets. “The tariff turmoil that has caused extreme volatility in equity and bond markets has not yet factored into commercial real estate activity, given the long closing time for most deals. Instead, the uneven price performance across property types seen since 2022 continued.”
Retail pricing rose 4.6% year-over-year. Industrial, formerly the leader in pricing gains, came in second with a 2.3% Y-O-Y gain. Apartments and office continued to moderate their Y-O-Y losses.
- ◦Sale/Acquisition
